Main Street Capital Co. (NYSE:MAIN) to Issue Monthly Dividend of $0.30

Main Street Capital Co. (NYSE:MAIN) announced a monthly dividend on Monday, August 5th, NASDAQ reports. Stockholders of record on Tuesday, October 8th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, October 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date is Tuesday, October 8th.

Main Street Capital has increased its dividend payment by an average of 18.7% annually over the last three years. Main Street Capital has a payout ratio of 74.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Main Street Capital to earn $3.98 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Trading Up 0.8 %

Shares of NYSE:MAIN opened at $51.02 on Friday. The company has a market capitalization of $4.37 billion, a P/E ratio of 9.31 and a beta of 1.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.07 and a quick ratio of 0.07. The business’s 50 day simple moving average is $49.57 and its 200 day simple moving average is $49.28. Main Street Capital has a 1 year low of $37.70 and a 1 year high of $52.39.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. The company had revenue of $132.15 million for the quarter, compared to analyst estimates of $132.62 million. Main Street Capital had a return on equity of 14.06% and a net margin of 87.58%. During the same period in the prior year, the firm posted $1.06 EPS. On average, research analysts anticipate that Main Street Capital will post 4.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Oppenheimer raised their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.40.

About Main Street Capital

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.